The Town of Penetanguishene has announced a significant change in its payment methods. Effective immediately, all payments will solely be made electronically. This proactive change is part of the Town’s ongoing commitment to security enhancements and efficiency in its financial transactions. The new process will require all Town Vendors to complete Electronic Funds Transfer (EFT) forms.
The Finance Department is responsible for the financial management and general reception for the Town, including Audited Financial Statements and Budget.
The Town's annual budget is developed by staff in consideration of Council's direction. Public consultations are typically held during the budget process. Council typically approves the budget in December of each year ensuring an approved budget is in place for the start of the new year.
The Town of Penetanguishene 2024 Development Charges (DC) Background Study is presented as part of the process to lead to the approval of a new DC by-law in compliance with the Development Charges Act, 1997 (DCA). The study is prepared in accordance with the DCA and associated Regulation, including amendments that came into force on January 1, 2016, June 6, 2019, January 1, 2023 and September 17, 2023.
The Town provides a wide range of services to the community it serves and has an extensive inventory of facilities, land, infrastructure, vehicles and equipment. The DCA provides municipalities with flexibility to define services that will be included in development charge by-laws, provided that the other provisions of the Act and its associated regulations are met. The DCA also requires that the by-law designates the areas within which the by-law shall be imposed. The development charges may apply to all lands in the Town.
The Operating Budget covers day-to-day spending on services such as recreation programs, parks maintenance, public health, roads, transit, and emergency services.
The Capital Budget pays for the Town's big-ticket items that it owns and manages, such as infrastructure, transit, roads, bridges, parks and public buildings, including libraries, community centres and fire stations. The 10-year Capital Budget and Plan is updated and presented each year as part of the budget process. The Capital Budget is primarily funded from reserves, development charges, other governments and borrowing. Ontario municipalities may issue long-term debt only for capital and not operating expenses.
The Town is required by provincial law to balance its operating and capital budget each year – which means that the money spent must be equal to the money raised.
To balance the budget, the Town can either increase its taxes and fees and/or change or reduce the cost or amount of services provided.
The Gross budget is the total cost of running all town programs and services. It’s the large number that includes everything. The Net budget is what’s left after subtracting other funding the Town gets from other sources, such as subsidies for cost-shared services and program fees. The Net budget is the part of the budget that gets paid for by taxes and other fees.
Funds set aside by Town Council to save over time to pay for big projects, protect against market changes or handle unexpected costs. These reserve funds can be used for general needs or specific purposes, depending on Council decisions.
If you would like to obtain copies of Budget reports for any years not listed here, please contact the Finance Department.
10 Robert Street West,
Penetanguishene, ON
L9M 2G2
T: 705-549-7453
F: 705-549-3743
